Analysts Anticipate Maxim Integrated Products, Inc. (MXIM) Will Announce Quarterly Sales of $619.90 Million
Wall Street brokerages expect Maxim Integrated Products, Inc. (NASDAQ:MXIM) to announce $619.90 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Maxim Integrated Products’ earnings, with estimates ranging from $619.50 million to $620.00 million. Maxim Integrated Products posted sales of $551.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The business is scheduled to report its next earnings results on Thursday, January 25th.
On average, analysts expect that Maxim Integrated Products will report full year sales of $619.90 million for the current fiscal year, with estimates ranging from $2.37 billion to $2.48 billion. For the next financial year, analysts anticipate that the company will post sales of $2.51 billion per share, with estimates ranging from $2.40 billion to $2.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $576.80 million. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.55%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share.
MXIM has been the subject of several recent research reports. Loop Capital restated a “buy” rating and set a $43.00 price target on shares of Maxim Integrated Products in a research report on Tuesday, August 22nd. Stifel Nicolaus upped their price target on shares of Maxim Integrated Products from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Credit Suisse Group upped their price target on shares of Maxim Integrated Products from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a research report on Monday, October 23rd. Finally, Maxim Group restated a “buy” rating on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. Maxim Integrated Products has an average rating of “Hold” and an average target price of $52.14.
In other Maxim Integrated Products news, VP Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $51.71, for a total value of $1,292,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.50, for a total transaction of $166,250.00. The disclosure for this sale can be found here. Insiders sold a total of 223,177 shares of company stock valued at $11,599,609 over the last three months. 1.11% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MXIM. Bank of New York Mellon Corp lifted its stake in Maxim Integrated Products by 29.9% during the third quarter. Bank of New York Mellon Corp now owns 13,758,325 shares of the semiconductor company’s stock valued at $656,409,000 after buying an additional 3,164,871 shares in the last quarter. BlackRock Inc. lifted its stake in Maxim Integrated Products by 13.4% during the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock valued at $895,388,000 after buying an additional 2,358,743 shares in the last quarter. American Century Companies Inc. lifted its stake in Maxim Integrated Products by 17.2% during the third quarter. American Century Companies Inc. now owns 14,214,823 shares of the semiconductor company’s stock valued at $678,189,000 after buying an additional 2,087,911 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Maxim Integrated Products by 483.2% during the second quarter. Principal Financial Group Inc. now owns 2,236,143 shares of the semiconductor company’s stock valued at $100,403,000 after buying an additional 1,852,730 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in Maxim Integrated Products during the second quarter valued at about $73,792,000. 90.48% of the stock is owned by institutional investors.
Maxim Integrated Products (NASDAQ MXIM) traded down $0.27 during trading on Tuesday, hitting $51.89. 1,663,516 shares of the stock traded hands, compared to its average volume of 2,045,318. The company has a market capitalization of $14,720.00, a price-to-earnings ratio of 22.89, a P/E/G ratio of 2.02 and a beta of 1.10. The company has a quick ratio of 13.09, a current ratio of 14.14 and a debt-to-equity ratio of 0.68. Maxim Integrated Products has a fifty-two week low of $38.18 and a fifty-two week high of $55.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Wednesday, November 29th. Maxim Integrated Products’s payout ratio is 70.24%.
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About Maxim Integrated Products
Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.
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